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Fitch Places NovaSTAR Mortgage on Negative Ratings Watch

03/26/2007 By: Kerri Panchuk Printer Friendly View

Kansas City, Missouri-based NovaSTAR Financial Inc. has received word that Fitch Ratings placed its NovaSTAR Mortgage subsidiary on a negative ratings watch.
Fitch in a press statement said, “the ratings watch reflects the challenging operating environment in the subprime mortgage market and uncertainties regarding NFI’s profitability. As a result of the company’s recent challenges, NFI’s ability to fund its ongoing servicing operation and maintain servicing quality could come under pressure.”


Author: Kerri Panchuk • Date: 03/26/2007

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